FLEXIBLE PAPER PACKAGING MARKET ANALYSIS

Flexible Paper Packaging MarketSize and Trends

Flexible paper packaging are used to protect and package products. These are environmentally friendly bags that are available in different shapes and colors with durability.

Market Dynamics:-

Increasing awareness about sustainable packaging is a major factor that is expected to drive growth of the market over the forecast period. Furthermore, rising demand for flexible paper packaging from end-use industries such as food and beverages is also expected to drive growth of the flexible paper packaging market over the forecast period. For instance, according to the Statistics Canada and Annual Survey of Manufactures, revenue generated from food manufacturing industry in Ontario, Canada was US$ 24,080.90 million in 2012 and increased to reach US$ 27,069.65 million in 2017.

Development of innovative packaging products is expected to fuel growth of the global flexible paper packaging market over the forecast period. For instance, in April 2018, Sappi Limited, a manufacturer of sustainable wood fiber products and solutions, launched recyclable flexible paper packaging with integrated sealing functionality. It is designed to replace heat seal plastic laminates used in food and other industrial sectors as flexible standard packaging.

Market Outlook:-

Among regions, North America held a dominant position in the global flexible paper packaging market in 2018. In North America, the U.S. held the highest market share in 2018, and is expected to retain its dominance over the forecast period. This is attributed to rising demand for green and eco-friendly packaging in the region. For instance, according to Coherent Market Insights’ analysis, in 2016, North America held a dominant position in the global green packaging market accounting for 30% of market share.

Moreover, Asia Pacific is expected to be a lucrative region in global flexible paper packaging market by 2020, owing to shift in consumer preference from plastic to paper. Furthermore, government initiatives to ban plastics in India and China, is expected to fuel growth of the flexible paper packaging market over the forecast period. For instance, according to India’s Ministry of Environment, Forest and Climate Change, India banned the import of plastic wastes from August 2019.

Furthermore, in November 2018, Ahlstrom-Munksjö, one of the leading player in innovative and sustainable fiber solutions, developed a flexible packaging solution by entering into a partnership with five companies, which includes three research centers and two industrial partners. The aim of this partnership was to develop biodegradable, renewable and recyclable flexible paper based packaging by using sustainable materials to reduce the volume of plastic films.